Wealth Enhancement Advisory Services LLC Buys Shares of 3,588 Astera Labs, Inc. (NASDAQ:ALAB)

Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,588 shares of the company's stock, valued at approximately $475,000.

A number of other hedge funds also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. bought a new stake in Astera Labs during the fourth quarter valued at about $159,000. Sumitomo Mitsui Trust Group Inc. purchased a new stake in Astera Labs during the fourth quarter valued at approximately $1,285,000. Empowered Funds LLC purchased a new stake in shares of Astera Labs in the fourth quarter worth approximately $60,000. Vontobel Holding Ltd. bought a new position in Astera Labs in the fourth quarter worth approximately $2,705,000. Finally, Rhumbline Advisers grew its stake in Astera Labs by 371.4% in the fourth quarter. Rhumbline Advisers now owns 99,949 shares of the company's stock worth $13,238,000 after purchasing an additional 78,746 shares in the last quarter. Hedge funds and other institutional investors own 60.47% of the company's stock.

Insider Activity at Astera Labs

In related news, CEO Jitendra Mohan sold 14,200 shares of the firm's stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $100.00, for a total value of $1,420,000.00. Following the completion of the sale, the chief executive officer now owns 538,759 shares in the company, valued at $53,875,900. This trade represents a 2.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Manuel Alba sold 600 shares of the firm's stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $100.00, for a total transaction of $60,000.00. Following the completion of the sale, the director now owns 436,563 shares of the company's stock, valued at approximately $43,656,300. The trade was a 0.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,495,267 shares of company stock worth $131,012,865 over the last 90 days.

Astera Labs Price Performance

Shares of NASDAQ:ALAB traded down $4.61 on Friday, reaching $89.73. The company's stock had a trading volume of 3,492,868 shares, compared to its average volume of 4,117,351. The stock's 50-day moving average is $78.06 and its two-hundred day moving average is $92.26. Astera Labs, Inc. has a 52-week low of $36.22 and a 52-week high of $147.39. The stock has a market capitalization of $14.80 billion, a P/E ratio of -51.87, a PEG ratio of 6.18 and a beta of 1.39.

Astera Labs (NASDAQ:ALAB - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.33 EPS for the quarter, beating analysts' consensus estimates of $0.28 by $0.05. Astera Labs had a negative net margin of 21.05% and a negative return on equity of 10.40%. The business had revenue of $159.44 million during the quarter, compared to analysts' expectations of $151.55 million. During the same period in the prior year, the company earned $0.10 earnings per share. The business's revenue was up 144.1% compared to the same quarter last year. Equities analysts forecast that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Susquehanna assumed coverage on Astera Labs in a research report on Friday, May 16th. They set a "neutral" rating and a $80.00 target price on the stock. Stifel Nicolaus decreased their price objective on Astera Labs from $150.00 to $100.00 and set a "buy" rating for the company in a report on Thursday, April 17th. William Blair started coverage on Astera Labs in a report on Thursday, May 22nd. They set an "outperform" rating for the company. Citigroup decreased their price objective on Astera Labs from $120.00 to $100.00 and set a "buy" rating for the company in a report on Monday, April 14th. Finally, Barclays increased their price objective on Astera Labs from $70.00 to $75.00 and gave the company an "overweight" rating in a report on Wednesday, May 7th. One analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Astera Labs presently has a consensus rating of "Buy" and an average target price of $100.00.

About Astera Labs

Astera Labs, Inc designs, manufactures, and sells semiconductor-based connectivity solutions for cloud and AI infrastructure. Its Intelligent Connectivity Platform is comprised of a portfolio of data, network, and memory connectivity products, which are built on a unifying software-defined architecture that enables customers to deploy and operate high performance cloud and AI infrastructure at scale.